Bernardo Wealth Planning LLC Sells 142 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Bernardo Wealth Planning LLC lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,147 shares of the business services provider’s stock after selling 142 shares during the quarter. Bernardo Wealth Planning LLC’s holdings in Automatic Data Processing were worth $329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADP. Itau Unibanco Holding S.A. purchased a new stake in shares of Automatic Data Processing during the third quarter valued at $26,000. Kiely Wealth Advisory Group Inc. purchased a new stake in Automatic Data Processing in the 2nd quarter valued at about $27,000. Dunhill Financial LLC grew its stake in Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after acquiring an additional 149 shares in the last quarter. Hexagon Capital Partners LLC increased its position in shares of Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after acquiring an additional 51 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of Automatic Data Processing during the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the topic of several research analyst reports. Citigroup increased their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Sunday. Mizuho upped their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. UBS Group increased their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Barclays boosted their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Trading Down 0.0 %

NASDAQ:ADP opened at $296.18 on Friday. The stock has a market capitalization of $120.68 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $309.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $297.90 and a 200 day moving average of $279.99.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the prior year, the business posted $2.08 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.08%. Automatic Data Processing’s payout ratio is 65.74%.

Insider Activity

In other news, VP David Foskett sold 1,004 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $289.29, for a total value of $290,447.16. Following the sale, the vice president now owns 5,958 shares in the company, valued at $1,723,589.82. This represents a 14.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,129 shares of company stock worth $12,604,872 over the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.